Family farm and business tax could cost £14.8bn in lost GVA Opinion The government should rethink its damaging tax raid on family farms and businesses, says Neil Davy UK MPs have returned to Westminster with fresh policy positions and new priorities ringing in their ears. As they do so, the fallout from one of last year’s most contentious policy announcements, the family business and farm tax, should [...]
Labour’s not for turning but the Inheritance Tax battle will rumble on Politics Civil servants and politicians could not believe their eyes. As the hoarse grumble of diesel motors thundered along Whitehall, a fleet of tractors descended onto Parliament Square, heralded by a cacophony of honks to the tune of Aqua’s Barbie Girl. Beginning in November, farmers marched to Westminster to protest the government’s inheritance tax (IHT) reforms. [...]
MPs demand changes to inheritance tax raid on farms Politics Plans to levy inheritance tax on farmland threaten the future of British agriculture and should be paused while its ill effects are properly examined, an influential committee of MPs has said. In a damning report on the state of British farming, the Environment, Food and Rural Affairs (EFRA) Committee argued there was a “considerable risk” [...]
200,000 jobs to go after Labour’s inheritance tax raid March 24, 2025 Family owned businesses and farms across the UK are cutting jobs, halting investment and selling assets to stay afloat in response to sweeping tax changes. According to research by CBI-Economics, commissioned by Family Business UK, the government’s move to cap business property relief (BPR) and reform agricultural property relief (APR) has triggered a wave of [...]
Inheritance tax: Ministers urged to ‘do right thing’ ahead of farming summit February 25, 2025 The government is being urged to “do the right thing” over its plan to bring in inheritance tax for farm businesses worth more than £1m, following months of protests by farmers. Ministers are being encouraged to “reset” their relationship with Britain’s farmers, ahead of the National Farmers’ Union (NFU) conference on Tuesday. President Tom Bradshaw [...]
‘This is Keir Starmer’s Poll Tax’: Labour warned inheritance tax protests won’t stop February 17, 2025 The Labour government’s reforms to farmers’ inheritance tax announced in the Autumn Budget has been branded as “Keir Starmer’s Poll Tax”. William Lees-Jones, who owns and runs Manchester-based JW Lees, which has produced real ale since 1828, added that the Prime Minister is “losing the argument and feeling rattled”. The pubs boss has liked the policy, which [...]
Farmers warn of ‘breaking point’ at Westminster tractor rally February 10, 2025 Protesting farmers at a tractor rally in Westminster have warned “we are at breaking point” as they called on the government to scrap planned changes to inheritance tax on farms. Protesters staged another tractor protest outside Parliament and Downing Street on Monday, organised by Save British Farming, as they continued to campaign against Labour’s plans [...]
Inheritance tax on farms: Lidl, Tesco and Aldi join demands for consultation January 22, 2025 Supermarkets Lidl, Tesco and Aldi have added their names to calls for a consultation over the government’s reforms to inheritance tax, citing concerns the changes would dent farmer confidence and choke off investment. In an unusual string of interventions, the retailers rode to the defence of farmers’ calls to pause the changes to Agricultural Property [...]
Tax experts question £3m family farm IHT exemption as not ‘realistic’ December 27, 2024 The government’s claim that family farms will benefit from a £3m tax exemption has been questioned by tax experts. Prime Minister Sir Keir Starmer has argued in defence of Chancellor Rachel Reeves’ move in the Budget to charge inheritance tax (IHT) on agricultural land worth above £1m. He said earlier this month that in a [...]
‘Christmas comes early’ as inheritance tax receipts jump on threshold freeze December 20, 2024 The amount of inheritance tax (IHT) brought in by the government ticked up to £600m in November, as frozen thresholds pushed more estates into paying the tax. “Christmas has come early for the government,” said Shaun Moore, tax and financial planning expert at Quilter, with the higher tax receipts allowing the amount the government borrowed [...]